Leisure & Gaming (LNG)

Leisure & Gaming (LNG)

Leisure & Gaming (LNG) - Meets Expectations

Leisure & Gaming said trading for the first half has been in line with market expectations and continues the profitable growth of the company. The betting and gaming group said that for the six months to June 30 it saw a gross profit of €3.4m versus 1.2m for the same period last year with an estimated EBIT of €1.2m compared with a €1.4m loss last year. The company also said it raised £553,000 via a share placing of 9.22m new shares at 6p each, proceeds from which, will be used to obtain an Italian online licence and to make further improvements to the group's operating platform.

Chief Executive Henry Birch commented in a statement.
"We will continue to make operational improvements over the quieter summer months and look forward to the start of the football season and a strong fourth quarter, which historically yields the highest trading volumes," 

The company added it expects to have its full estate of Italian shops operating under new Bersani licences open by the start of the football season and it also expects to offer online poker throughout its retail network and to Italian online customers before the end of the year.

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